Never mind, got it ----- Nongshim, Korea's $2.4b noodle giant,...

Never mind, got it

-----

Nongshim, Korea's $2.4b noodle giant, is pursuing ASX-listed Beston Global

The $2.4 billion noodle giant Nongshim Group is South Korea's biggest food and beverage maker and wants to get into bed with ASX-listed Beston Global Food Co to harness the "clean and green" image of Australian premium food.

But Roger Sexton, the chairman of Beston, which has stakes in a range of premium food businesses selling milk, cheese, lobsters, tuna and beef, said on Monday that talks between the two firms were centred on a distribution deal into South Korea and didn't involve any proposed direct equity investment by Nongshim or its subsidiaries.

"We've been talking to them for three or four months," he said.

Nongshim is a giant in the world of ramen noodles and operates 11 manufacturing plants across South Korea, China and California. Its business generates annual sales revenue of US$1.8 billion ($2.4 billion).


Beston shares have risen 40 per cent since early April and are now sitting around 49¢. They climbed 3 per cent in early trading on Monday.


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